Contract Perfection Date Clarified

Summary

In contract law, a contract is perfected when the acceptance of the offer is communicated to the offeror. In the given scenario, the acceptance letter was delivered to Ivory on September 4, making that the date when the contract was perfected. Additionally, Linas act of assigning her option to purchase the house to Nanette is valid, provided there is no prohibition against assignment in the option contract.

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Yes, I am sure. In contract law, a contract is perfected when the acceptance of the offer is communicated to the offeror. In this scenario, the acceptance letter was delivered to Ivory on September *, making that the date when the contract was perfected.
Which of the following if the best answer: Lina is interested to purchase the house of Marilyn which is for sale for P10,*,*.*. Lina gave Marilyn P20,*.* for an option good for 20 days. The same was accepted by Marily. On the 19th day, Lina is short of cash and cannot purchase the house. Lina decided to assign her right to purchase to Nanette. The act of Lina is valid. - True - False
The best answer is True.
Lina has the right to assign her option to purchase the house to Nanette as long as there is no prohibition against assignment in the option contract. The option contract is a separate agreement that gives Lina the right to buy the property, and she can transfer this right to another party.